Understanding the Economic Substance Regulations
Subsequent to the consultations with European Union and Organization for Economic Co-operation and Development OECD, the Cabinet of Ministers of UAE updated the 2019 Cabinet Decision No. 31, pertaining to the Economic Substance regulations (ESR).
The Ultimate Beneficial Ownership (UBO) Regulation in the UAE: Procedural Amendment
Cabinet Resolution No. (58)/ 2020 regulating Procedures related to Beneficial Owners (the ” Resolution “) came into force on the 27th of August 2020 superseding earlier cabinet resolution of 34 of 2020.
Opening a Branch of a Foreign Company has never been so Attractive in the Kingdom of Bahrain
The Bahrain Economic Development Board (EDB), responsible for promoting Foreign Direct Investment (FDI) in Bahrain particularly focuses on attracting FDI in Manufacturing, Information Technology, Communication, Logistics, Tourism, Financial Services and Leisure sectors.
UAE Unveils Onshore Trust Law: A Legislative Framework for Wealth Management
The UAE cabinet, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Ruler of Dubai approved the issuance of a new Federal Decree-Law on Financial Covenants.
Saudi Arabia And The UN ITU Sign MOU to Collaborate on AI Optimization Globally
Saudi Arabia represented by the Saudi Data and AI Authority (SDAIA) and the International Telecommunication Union (ITU) of the United Nations has recently reached a Memorandum of Understanding (MOU) to collaborate on initiatives aimed at supporting, strengthening and optimizing the benefits of Artificial Intelligence (AI) for sustainable development globally.
UAE Offers Lucrative Business Opportunities to Indian MSMEs
The UAE Ministry of Economy has specially invited the Indian major chambers and business associations to explore investment opportunities in Dubai for MSMEs and other Industries and participate in the Digital Annual Investment Meeting 2020.
UAE Post Covid Economy is all Poised for a Bounce Back In 2021
In every possibility, the UAE’s economy will make a modest comeback in 2021. With the global economy recovering from the severe damages of the Covid 19 pandemic and assuming that the global World Expo takes place as scheduled with the motto of “Sustainability, Mobility and Opportunity”, the projected economy is all set to rebound with more than 3 % increase in its GDP.
Diplomatic Breakthrough Will Open Floodgates Of Opportunities in UAE Israel Cross Border Investment
Recent diplomatic breakthroughs between the UAE and Israel have come as a boon for the UAE and Israeli businesses, and also to the other business communities in the MENA and the MEASA regions.
ZOHO Books and Implementation in UAE
The concept of online smart cloud-based accounting was first put into practice in 1998, and since then, there have been many innovative software developments to bring it to today’s maturity.
DIFC DFF Collaborate for Making 10x Dubai, The Leading City in the World
Dubai International Financial Center (DIFC) is a special economic free zone in Dubai and founded in 2004. It is the financial hub for the Middle East, Africa, and South Asia (MEASA) markets. DIFC has a large business community with its own independent regulatory framework and judicial system.